Cummings Mary Griffin 4

What Happened

• Mary Griffin Cummings, EVP and General Counsel of PEOPLES FINANCIAL SERVICES CORP. (PFIS), had 246 restricted stock units (RSUs) vest on March 11, 2026. The RSUs converted one-for-one into common shares. To cover the tax liability, 83 of those shares were withheld (disposed) at $51.80 per share for a tax withholding value of $4,299, leaving a net issuance of 163 shares to Ms. Cummings.

Key Details

• Transaction date: 2026-03-11; Form filed: 2026-03-13 (filed timely).
• Vesting/conversion: 246 RSUs converted to 246 common shares (derivative conversion; code M).
• Tax withholding: 83 shares withheld/disposed at $51.80 each, total $4,299 (code F).
• Net new shares received by insider: 163 shares.
• Holdings after transaction: Form indicates beneficial ownership of 6,840 shares (includes 876 time‑based restricted shares and 5,964 common shares).
• Remaining unvested RSUs from the 3/28/2025 grant: 239 RSUs vesting 3/11/2027 and 238 RSUs vesting 3/11/2028.
• Footnotes: RSUs convert one-for-one to common stock; withholding is a routine tax-withholding event (not an open-market sale).

Context

• This was an RSU vesting event, not an option exercise requiring cash. The 83-share disposition was a tax-withholding/sell-to-cover action rather than a market sale, so it reflects standard compensation withholding rather than a directional trading signal.